Georgia Code, Title 7, Chapter 1, Article 13 - Licensing of Mortgage Lenders and Mortgage Brokers

• § 7-1-1000 - Definitions
  As used in this article, the term: (1) "Affiliate" or "person affiliated with" means, when used with reference to a specified person, a person...
• § 7-1-1001 - Exemption for Certain Persons and Entities; Registration Requirements
  (a) The following persons shall not be required to obtain a mortgage loan originator, mortgage broker, or mortgage lender license and shall not be...
• § 7-1-1001.1 - Requirement for Mortgage Loan Originator License; Application to Sellers of Mobile Homes
  (a) Effective August 1, 2010, it shall be prohibited for any person to engage in the activities of a mortgage loan originator without first...
• § 7-1-1002 - Transaction of Business Without a License, Registration, or Exemption Prohibited; Knowing Purchase of Mortgage Loan From Unlicensed or Nonexempt Broker or Lender Prohibited; Liability of Persons Controlling Violators
  (a) It shall be prohibited for any person to transact business in this state directly or indirectly as a mortgage broker, a mortgage lender,...
• § 7-1-1003 - Applications for Licenses
  (a) An application for a license under this article shall be made in writing, under oath, and in such form as the department may...
• § 7-1-1003.1 - Physical Place of Business
  If the applicant for a mortgage broker license or a renewal of such license does not have a physical place of business in Georgia,...
• § 7-1-1003.2 - Financial Requirements for Licensing and Registration; Bond Requirements
  (a) Each licensed or registered mortgage broker shall provide the department with a bond. The bond for a mortgage broker shall be in the...
• § 7-1-1003.3 - Application for Registration
  An application to register as a mortgage lender or broker under this article shall be made annually in writing, under oath, on a form...
• § 7-1-1003.4 - Notification Statement
  Reserved. Repealed by Ga. L. 2009, p. 252, § 1/HB 312, effective July 1, 2009.
• § 7-1-1003.5 - Nationwide Mortgage Licensing System and Registry
  (a) The department is authorized to: (1) Participate in the Nationwide Mortgage Licensing System and Registry in order to facilitate the sharing of information...
• § 7-1-1003.6 - Privileged or Confidential Nature of Information; Exception
  (a) Except as otherwise provided in the federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008, the requirements under any federal law...
• § 7-1-1003.7 - Approval of Mortgage Industry Related Courses; Application; Renewal Applications; Audits
  (a) Any education provider which offers mortgage industry related courses designed to satisfy education requirements as provided in subsection (c) of Code Section 7-1-1004...
• § 7-1-1004 - Investigation of Applicant and Its Officers; Audit; Education, Experience, and Other Requirements Relative to Licensees and Registrants
  (a) Upon receipt of an application for license or registration, the department shall conduct such investigation as it deems necessary to determine that the...
• § 7-1-1004.1 - Reports of Condition
  Each mortgage broker and mortgage lender shall submit to the Nationwide Mortgage Licensing System and Registry reports of condition, which shall be in such...
• § 7-1-1004.2 - Licensees' Ability to Challenge Information
  The department shall establish a process whereby licensees may challenge information entered into the Nationwide Mortgage Licensing System and Registry by the department.
• § 7-1-1004.3 - Visibility Requirement for Unique Identifier of Individuals Originating Residential Mortgage Loan
  The unique identifier of any person originating a residential mortgage loan shall be clearly shown on all residential mortgage loan application forms, solicitations, or...
• § 7-1-1005 - Renewal of Licenses and Registrations; Expiration
  (a) Except as otherwise specifically provided in this article, all licenses and registrations issued pursuant to this article shall expire on December 31 of...
• § 7-1-1006 - Contents of License; Posting of License; Transferring of License; Transacting Business Under Other Name; Change of Address; Opening a New Additional Office Without Prior Approval; Approval of Branch Manager
  (a) Each license issued under this article shall state the name of the licensee.(b) A licensee shall post a copy of such license in...
• § 7-1-1007 - Licensee to Give Notice of Certain Actions Brought Against It by a Creditor or Borrower; Notice to the Department of Cancellation of Bond
  (a) A licensee shall give notice to the department by registered or certified mail or statutory overnight delivery of any action which may be...
• § 7-1-1008 - Acquisition of 10 Percent or More of the Voting Shares or of the Ownership of Any Other Entity Licensed or Registered to Conduct Business Under This Article
  (a) Except as provided in this Code section, no person shall acquire directly or indirectly 10 percent or more of the voting shares of...
• § 7-1-1009 - Maintenance of Books, Accounts, and Records; Investigation and Examination of Licensees and Registrants by Department; Confidentiality; Exemptions From Civil Liability
  (a) Mortgage brokers and mortgage lenders required to be licensed or registered under this article shall maintain at their offices or such other location...
• § 7-1-1010 - Annual Financial Statements
  (a) If a mortgage broker is a United States Department of Housing and Urban Development loan correspondent, such broker shall also submit to the...
• § 7-1-1011 - Annual Fees
  (a) The department may, by regulation, prescribe annual fees to be paid by licensees and registrants, which fees shall be set at levels necessary...
• § 7-1-1012 - Rules and Regulations
  Without limitation on the power conferred by Article 1 of this chapter, the department may make reasonable rules and regulations, not inconsistent with law,...
• § 7-1-1013 - Prohibition of Certain Acts
  It shall be prohibited for any person transacting a mortgage business in or from this state, including any person required to be licensed or...
• § 7-1-1014 - Regulations Governing Disclosure Required to Applicants for Mortgage Loans
  In addition to such other rules, regulations, and policies as the department may promulgate to effectuate the purposes of this article, the department shall...
• § 7-1-1015 - Rules Relative to Escrow Accounts
  The department may promulgate rules with respect to the placement in escrow accounts by any person required to be licensed or registered by this...
• § 7-1-1016 - Regulations Relative to Advertising
  In addition to such other rules, regulations, and policies as the department may promulgate to effectuate the purpose of this article, the department shall...
• § 7-1-1017 - Suspension or Revocation of Licenses, Registrations, or Mortgage Broker Education Approval; Notice; Judicial Review; Effect on Preexisting Contract
  (a) (1) The department may suspend or revoke an original or renewal license, registration, or mortgage broker education approval on any ground on which...
• § 7-1-1018 - Cease and Desist Orders; Enforcement Procedure; Civil Penalty; Fines
  (a) Whenever it shall appear to the department that any person required to be licensed or registered under this article or employed by a...
• § 7-1-1019 - Criminal Penalties
  Any person and the several members, officers, directors, agents, and employees thereof who: (1) Shall violate the provisions of subsection (a) or (a.1) of...
• § 7-1-1020 - Construction
  Nothing in this article shall limit any statutory or common law right of any person to bring any action in any court for any...
• § 7-1-1021 - Regulations Governing Lock-In and Commitment Agreements
  The department may promulgate regulations governing the use and contents of lock-in agreements and commitment agreements.

Last modified: October 14, 2016